AmerisourceBergen - ABC - close: 68.02 change: +1.21 stop: 64.95*new*
The broad market rally today really helped confirm ABC's rebound from Monday. The stock added 1.8 percent and is within striking distance of or $69.50-70.00 target. We are raising the stop loss to $64.95.
Picked on June 13 at $ 65.57
Ashland Inc - ASH - close: 70.49 chg: +0.29 stop: 66.99
No change from our weekend update.
Picked on June 16 at $ 70.05
Chubb Corp - CB - close: 86.28 change: +0.10 stop: 82.49
No change from our previous update.
Picked on June 10 at $ 85.05
Rockwell Collins - COL - close: 48.33 chg: +0.95 stop: 46.49 *new*
The defense sector really soared during today's rally. The DFI index added 2.6 percent to rush back toward its recent all-time highs. Shares of COL followed with a two percent gain. If you missed the bullish entry point yesterday we would buy today's bounce. We are raising the stop loss to $46.49.
Picked on June 27 at $ 46.75
Cummins Inc - CMI - close: 75.53 change: +2.23 stop: 70.95
A big day in the markets translated into a bigger day for CMI. The stock shot past its 200-dma and rallied toward last week's highs. CMI added 3.16 percent on the session. Our target is the $77.50-80.00 range.
Picked on June 19 at $ 74.03
Fording Candn Coal - FDG - cls: 91.03 chg: -3.37 stop: 88.49 *new*
Ouch! Energy stocks were the worst performing sector today and FDG was caught in the stampede lower. Shares gapped down to $93.20 and declined toward $91 before the close. We're expecting the $90.00 level to act as support. Watch for a bounce before considering new positions. We are going to raise the stop loss to $88.49.
Picked on June 19 at $ 90.30
Goldman Sachs - GS - close: 103.96 chg: +0.76 stop: 101.89
Ding! The early morning market strength was mirrored in shares of GS, which broke out over resistance at the $104.00 level. The stock hit an intraday high of $104.96. Our entry point to go long was $104.35 so the play is now open. GS' inability to maintain its gains may be a concern and more conservative traders might want to look for a bounce from the $104.00 level before considering new positions.
Picked on June 28 at $104.35
Netease.com - NTES - close: 57.97 chg: +1.27 stop: 55.95
The market rally certainly helped shares of NTES today. The stock bounced for a 2.2 percent gain. While this might look like a potential bullish entry point we remain cautious given Monday's breakdown and MACD sell signal.
Picked on June 13 at $ 57.29
Rio Tinto - RTP - close: 124.30 chg: +0.97 stop: 119.99
No change from yesterday's update.
Picked on June 27 at $123.33
SLM Corp - SLM - close: 50.77 change: +1.12 stop: 48.95
Today's bounce looks like a new bullish entry point. Just remember that we do not plan on holding past SLM's July earnings report.
Picked on June 20 at $ 50.92
Wellpoint Inc - WLP - close: 68.49 chg: +0.92 stop: 65.90
Traders might want to consider bullish positions here but we'd probably before to see a little more follow through on the rebound first.
Picked on June 05 at $ 68.40
Ambac Fincl. - ABK - close: 70.65 chg: +1.33 stop: 71.51
ABK produced a pretty good bounce on Tuesday but remains under its trend of lower highs. While the trend remains bearish we would be very careful here with ABK above the $70.00 level. More conservative traders may want to exit to avoid further losses.
Picked on June 26 at $ 69.62
ESCO Tech. - ESE - close: 101.49 chg: +1.52 stop: 102.51
This is looking more and more dangerous for the bears with ESE pushing back above the $100.00 mark. We are not suggesting new plays and conservative traders may want to exit early.
Picked on June 26 at $ 97.80